+36916 oops..... Melody accidentally used LOG for the last step instead of the natural ln ....
10*ln(3) = 10.9861
+118609 3 = e^0.1r, find r
Perhaps you mean 3 = e^(0.1r), find r
\(3 = e^{0.1r}\\ ln3=0.1r\\ r=ln3/0.1\\ r=10ln3\)
10*log(3) = 4.7712125471966244
+36916 Take the natural ln of both sides;
ln(3)=ln(e^(.1r) )
1.09861 = .1r Divide both sides by .1
10.9861= r
+36916 oops..... Melody accidentally used LOG for the last step instead of the natural ln ....
10*ln(3) = 10.9861
This formula asks the question: How long does it take for $1 to grow to $3 @ 10% compounded continuously? The answer, just as has been calculated above, is just under 11 years. So, r here =number of years. "n" is normally used to denote number of years, and "r" to denote the "interest rate", but has been reversed here.
